Timesheet Corrections Tab of the Time and Expense Posting Form

Use the Timesheet Corrections tab to reverse the hours and amounts of specific timesheets immediately after posting them. Amounts when you reverse a timesheet are determined from the setup at the time of posting the reversal. Only timesheets that were posted in the active period display on this tab.

Contents

Reversing a timesheet does not undo the original timesheet posting or any prior processing related to the original timesheet, such as:

• Billing labor transfers
• Payroll
• Adjusted salaried job costs
• Labor cross charges
• Transactions and processing done in Intercompany Billing and Interactive Billing
• Overhead allocation

Field	Description
Period Ending	The drop-down list displays all the enabled timesheet periods for the active company. Select the end date of the period for which you want to review data.
Employee Group	The drop-down list displays all the employee groups for the active company. Select the employee group for which you want to review timesheets.
Transaction Date	Specify the ending date for the time transaction file. Vantagepoint uses that date as the posting date for the summary general ledger posting. (This entry does not affect the dates associated with individual time records.) This field is available only if Vantagepoint is configured to require that transaction dates fall within the current fiscal year or current fiscal period. The date you enter must meet that requirement.
Diary	This field displays only if you have set up a diary for the fiscal period or fiscal year in which you are entering transactions in the Diary Auto Numbering Options section of the Transaction Settings form in Settings > Accounting > Transactions. Use this field to select a diary code for the current transaction or for the group of transactions, if you are processing a group of transactions. The diaries are used to generate diary reports that contain a set of sequentially numbered transactions that have been posted to the general ledger during the fiscal year or to specific fiscal periods. You can assign different diaries (that have different diary types) to different types of transactions. The Diary drop-down list contains three columns. The first column displays the diary code. The second and third columns display the diary type for the diary code and the description of the diary type. The drop-down list contains all the diaries that you set up in the Diary Auto Numbering Options section in Transactions Settings that either have the same fiscal period or fiscal year for which you are entering transactions or that have no fiscal period or year entered for them. If you have multiple companies in Vantagepoint, the Diary field drop-down list includes only the diary codes that are set up for the current company. The list also includes IC - Intercompany Diary to capture intercompany transactions. You cannot delete a transaction after it has been saved with a diary number. If a transaction is incorrect, you can enter zero amounts for the transaction or enter a reversing transaction.

Timesheet Grid

This grid displays timesheets that were posted in the accounting period (active period) that you are working in. Select one or more records and then click any of the grid actions. To select all records, select the checkbox next to the column headings.

Grid Actions

Field	Description
Print	Click this action to print the Transaction List report for the selected timesheets.
Print - Errors Only	Click this action to print the Transaction List Errors report for the selected timesheets.
Post - Reversal	This action is available if your security role has access rights to post timesheets. Click Post - Reversal to immediately reverse the selected posted timesheets. When you reverse a timesheet, Vantagepoint creates a new timesheet posting that reverses the hours and amounts for the original posted timesheet. Units that are associated with the timesheet are also included in the reversal. Important Note: Amounts when you reverse a timesheet are determined from the setup at the time of posting the reversal. Reversing a timesheet does not undo the original timesheet posting or any prior processing related to the original timesheet, such as billing labor transfers, payroll, adjusted salaried job costs, labor cross charges, Intercompany Billing and Interactive Billing transactions and processing, or overhead allocation. Reversed timesheets then display on the Timesheet tab of the Time and Expense Posting form. You can make updates to the timesheets and post them again. If you use approvals for timesheets, the timesheets that display on the Timesheet tab have an approved status. If you do not use approvals, timesheets have a submitted status.
Schedule To Post - Reversal	This action is available if your security role has access rights to post timesheets. Click Schedule to Post - Reversal to display the Schedule dialog box, on which you can set to reverse the selected timesheets and associated units (if applicable) at a later time.

Grid Columns

You can sort the contents of the Timesheet grid by any of the following columns.

Field	Description
Employee	This column displays the number that identifies the employee associated with the timesheet.
Employee Name	This column displays the name of the employee associated with the timesheet.
Regular Hours	This column displays the expected regular hours that the employee enters in the timesheet.
Overtime Hours	This column displays the employee's overtime hours in the timesheet.
Total Hours	This column displays the employee's total hours in the timesheet.
Employee Group	This column displays the timesheet group to which the employee is assigned.
Overtime Hours 2	If you use the secondary overtime feature (enabled in Settings > Accounting > Labor Options), this column displays the employee's secondary overtime hours in the timesheet.